DTN Early Word Grains 02/13 06:01

DTN Early Word Grains 02/13 06:01 Mixed Grains Ahead of Trade Deal Details March corn is down 1/4 cents per bushel, March soybeans are down 1/2 cents, and March K.C. wheat is up 1/2 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: March corn is down 1/4 cents per bushel, March soybeans are down 1/2 cents, and March K.C. wheat is up 1/2 cents. CME Globex Recap: Global equities are stronger Wednesday morning, including prospects for a higher U.S. open as President Trump opened the door to an extension of the U.S.-China trade truce beyond March 1. In addition, there has also been an agreement in principle on funding to avoid a U.S. government shutdown. Both issues have cost economic growth, something the market appears eager to avoid again. Mixed grain markets as futures sit inside recent ranges with volatility and momentum continuing to decline. Grains should react favorably to a concrete trade deal with China, but kicking the can down the road only hurts U.S. soybean export prospects. OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average up 372.65 at 25,425.76 and the S&P 500 up 34.93 at 2,709.80 while the 10-Year Treasury yield ended at 2.684%. Early Wednesday, the March DJIA futures are up 49 points. Asian markets are higher with Japan's Nikkei 225 up 280.27 (1.34%) and China's Shanghai Composite up 49.17 points (1.84%). European markets are higher with London's FTSE 100 up 32.25 points (0.45%), Germany's DAX up 9.55 points (0.09%) and France's CAC 40 up 312.56 points (0.25%). The March Euro is down 0.002 at 1.130 and the March U.S. dollar index is up 0.117 at 96.620. The March 30-Year T-Bond is up 1/32nds, while April gold is up $0.70 at $1,314.70 and March crude oil is up $0.55 at $53.65. Soybeans on China's Dalian Exchange were down -0.28% while soybean meal was up 0.08%.